Cubist Systematic Strategies LLC bought a new position in shares of Evans Bancorp, Inc. (NYSEAMERICAN:EVBN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 17,799 shares of the bank's stock, valued at approximately $500,000. Cubist Systematic Strategies LLC owned approximately 0.32% of Evans Bancorp at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Evans Bancorp during the 2nd quarter worth approximately $204,000. Endeavour Capital Advisors Inc. raised its holdings in Evans Bancorp by 56.6% during the second quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank's stock worth $8,394,000 after acquiring an additional 107,954 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Evans Bancorp during the 2nd quarter worth approximately $237,000. American Century Companies Inc. bought a new stake in Evans Bancorp during the second quarter worth $337,000. Finally, PL Capital Advisors LLC grew its position in shares of Evans Bancorp by 12.4% in the 2nd quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank's stock valued at $17,009,000 after acquiring an additional 66,642 shares during the period. Institutional investors own 67.10% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on EVBN. StockNews.com initiated coverage on Evans Bancorp in a report on Tuesday, October 8th. They issued a "hold" rating on the stock. Keefe, Bruyette & Woods boosted their target price on Evans Bancorp from $26.50 to $30.50 and gave the stock a "market perform" rating in a research note on Thursday, August 1st.
Read Our Latest Report on EVBN
Evans Bancorp Stock Performance
Shares of EVBN stock traded up $0.69 on Friday, hitting $39.80. The stock had a trading volume of 32,407 shares, compared to its average volume of 27,287. The company has a market cap of $220.09 million, a P/E ratio of 11.50 and a beta of 0.91. Evans Bancorp, Inc. has a 12-month low of $24.07 and a 12-month high of $40.97. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.98 and a quick ratio of 0.98.
Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.15. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.20%. The company had revenue of $30.22 million during the quarter.
Evans Bancorp Dividend Announcement
The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 12th were issued a $0.66 dividend. This represents a yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 12th. Evans Bancorp's dividend payout ratio (DPR) is presently 38.15%.
Insider Activity at Evans Bancorp
In related news, major shareholder Pl Capital Advisors, Llc acquired 6,680 shares of the company's stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price of $32.81 per share, with a total value of $219,170.80. Following the acquisition, the insider now owns 611,759 shares of the company's stock, valued at approximately $20,071,812.79. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.34% of the stock is owned by company insiders.
Evans Bancorp Company Profile
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Free Report)
Evans Bancorp, Inc primarily operates as financial holding company for Evans Bank, N.A. that provides a range of banking products and services to consumer and commercial customers in the United States. The company offers deposit products, which include checking and negotiable order of withdrawal accounts, savings accounts, and certificates of deposit.
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